R.D. Agrawala, Judicial Member - (1.)IN this second appeal preferred by the assessee, the addition of Rs. 50,000 made over and above the sale consideration of Rs. 3 lakhs shown in the sale deed dated 3rd January 1973 for the purposes of computation of capital gains has been objected to, inter alia, on the ground that no such amount was paid to her by the buyer who only with a view to purchase peace with the department, by way of an affidavit submitted during the Voluntary Disclosure Scheme, disclosed the additional payment, as was evident from the contents of the affidavit of the buyer Mr. Bishanlal according to which, he had filed the affidavit only to avoid harassment from the department.
(2.)The appellant absented despite notice. We have heard the learned departmental representative and proceed to dispose of the matter on merits.
On facts, the appellant sold a property located at Tilak Road to M/s. Bishanlal & Co. for a total consideration of Rs. 3 lakhs through a registered sale deed dated 3rd January 1973. While a sum of R's. 25,000 was paid at the time of executing the agreement, another sum in similar denomination was paid at the time of registration, the balance of Rs. 25,000 to be paid in 5 equated half yearly instalments beginning from 30th June, 1973 carrying on interest at the rate of 12% per annum.

(3.)DURING the assessment proceedings Shri Bishanlal when summoned by the Income-tax Officer stated that he had in fact paid a sum of Rs. 3,50,000 and not Rs. 3 lakhs.